Shares of Roku, Inc. (NASDAQ:ROKU - Get Free Report) rose 4.2% on Tuesday . The stock traded as high as $62.44 and last traded at $61.03. Approximately 1,917,039 shares were traded during trading, a decline of 66% from the average daily volume of 5,600,490 shares. The stock had previously closed at $58.57.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on ROKU. Wells Fargo & Company cut their price objective on shares of Roku from $51.00 to $45.00 and set an "underweight" rating for the company in a research report on Friday, April 12th. Pivotal Research reduced their price target on shares of Roku from $85.00 to $75.00 and set a "hold" rating on the stock in a research report on Friday, February 16th. Wedbush lowered their price objective on Roku from $120.00 to $80.00 and set an "outperform" rating for the company in a research report on Friday. Oppenheimer cut Roku from an "outperform" rating to a "market perform" rating in a research note on Friday, February 16th. Finally, Citigroup decreased their price target on Roku from $110.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 21st. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $84.76.
Read Our Latest Analysis on ROKU
Roku Price Performance
The stock's 50 day moving average is $64.33 and its two-hundred day moving average is $78.82. The stock has a market capitalization of $8.86 billion, a PE ratio of -12.30 and a beta of 1.66.
Roku (NASDAQ:ROKU - Get Free Report) last posted its earnings results on Thursday, February 15th. The company reported ($0.55) EPS for the quarter, beating the consensus estimate of ($0.65) by $0.10. The firm had revenue of $984.40 million for the quarter, compared to analyst estimates of $967.72 million. Roku had a negative return on equity of 29.21% and a negative net margin of 20.36%. Roku's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.70) earnings per share. On average, equities analysts predict that Roku, Inc. will post -2.12 earnings per share for the current year.
Insider Activity at Roku
In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the transaction, the chief executive officer now owns 141,221 shares of the company's stock, valued at $13,930,039.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Anthony J. Wood sold 25,000 shares of the company's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $98.64, for a total value of $2,466,000.00. Following the completion of the sale, the chief executive officer now directly owns 141,221 shares of the company's stock, valued at $13,930,039.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey M. Blackburn bought 8,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was bought at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the completion of the purchase, the director now directly owns 8,000 shares in the company, valued at approximately $511,680. The disclosure for this purchase can be found here. Insiders sold 54,545 shares of company stock valued at $4,364,035 over the last three months. 13.63% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Roku
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new stake in shares of Roku in the fourth quarter valued at about $27,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Roku in the 4th quarter worth approximately $29,000. Quarry LP increased its stake in Roku by 160.2% in the 4th quarter. Quarry LP now owns 432 shares of the company's stock valued at $40,000 after purchasing an additional 266 shares in the last quarter. Federated Hermes Inc. purchased a new stake in Roku during the third quarter worth $37,000. Finally, Headinvest LLC acquired a new stake in Roku in the third quarter valued at $42,000. Institutional investors and hedge funds own 86.30% of the company's stock.
About Roku
(
Get Free Report)
Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.
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